EUR/JPY Plummets 0.7% Amid Sustained Technical Selling Pressure

The EUR/JPY currency pair has experienced a decline of 0.7% today due to broad technical selling and sustained downside momentum.

The pair remains below all its key moving averages, including the 20-day, 50-day, and 200-day averages at ¥184.71, ¥184.6, and ¥184.54, respectively.

Technical indicators show persistent oversold conditions and weak momentum, with seller dominance in intraday flows and a strong sell reading from oscillators.

The expected five-day range is ¥177.07 to ¥182.61, with a greater than 80% probability of a continued downward move and limited upside potential.